Basis: Trailing twelve months (TTM), to the latest fiscal quarter end. Source: stored company filings and market data; unavailable inputs remain N/A.
Is the return on invested capital (ROIC) high or low?
The return on invested capital (ROIC) of 5.11% is 61% above its 5-year average of 3.18%, near the high end of its 5-year range (2.86%–5.11%).
As of the fiscal period ended Tuesday, June 30, 2026. 20.87% above its 12-month average of 4.23%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q2 FY2026 (2026-06-30): 5.11%.
RETURN ON INVESTED CAPITAL (ROIC)
5.11%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
4.23%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
3.13%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
3.18%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
3.22%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
3.18%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
3.58%
CURRENT VS TTM AVG
+20.87%
CURRENT VS 3Y AVG
+63.12%
CURRENT VS 5Y AVG
+60.75%
CURRENT VS 10Y AVG
+58.70%
CURRENT VS 15Y AVG
+60.82%
CURRENT VS 20Y AVG
+42.89%
SECTOR MEDIAN · UTILITIES
4.09%
median of 40 covered companies
CURRENT VS SECTOR MEDIAN
+24.91%
vs the sector median at left
Northwest Natural Holding Company
Market Cap
$1.98B
Return on Invested Capital (ROIC)
5.11%
TTM Avg
4.23%
3Y Avg
3.13%
5Y Avg
3.18%
Market Cap
$1.45B
Return on Invested Capital (ROIC)
-12.09%
TTM Avg
-0.84%
3Y Avg
-15.76%
5Y Avg
-81.23%
Market Cap
$2.94B
Return on Invested Capital (ROIC)
4.27%
TTM Avg
3.92%
3Y Avg
3.53%
5Y Avg
3.50%
Market Cap
$994.58M
Return on Invested Capital (ROIC)
-0.01%
TTM Avg
-1.00%
3Y Avg
-0.49%
5Y Avg
0.07%
Market Cap
$5.36B
Return on Invested Capital (ROIC)
4.73%
TTM Avg
4.69%
3Y Avg
4.70%
5Y Avg
4.72%
Market Cap
$6.62B
Return on Invested Capital (ROIC)
-6.59%
TTM Avg
-14.18%
3Y Avg
-70.65%
5Y Avg
-66.26%
Market Cap
$7.83B
Return on Invested Capital (ROIC)
6.41%
TTM Avg
6.02%
3Y Avg
2.46%
5Y Avg
4.61%
Market Cap
$8.67B
Return on Invested Capital (ROIC)
0.75%
TTM Avg
1.15%
3Y Avg
1.51%
5Y Avg
1.71%
Market Cap
$10.60B
Return on Invested Capital (ROIC)
4.38%
TTM Avg
4.35%
3Y Avg
4.71%
5Y Avg
5.33%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Northwest Natural Holding Company (NWN) | $1.98B | 5.11% | 4.23% | 3.13% | 3.18% |
| Fluence Energy, Inc. (FLNC)vs › | $1.45B | -12.09% | -0.84% | -15.76% | -81.23% |
| Avista Corporation (AVA)vs › | $2.94B | 4.27% | 3.92% | 3.53% | 3.50% |
| XPLR Infrastructure, LP (XIFR)vs › | $994.58M | -0.01% | -1.00% | -0.49% | 0.07% |
| Black Hills Corporation (BKH)vs › | $5.36B | 4.73% | 4.69% | 4.70% | 4.72% |
| Oklo Inc. (OKLO)vs › | $6.62B | -6.59% | -14.18% | -70.65% | -66.26% |
| UGI Corporation (UGI)vs › | $7.83B | 6.41% | 6.02% | 2.46% | 4.61% |
| Brookfield Renewable Partners L.P. (BEP)vs › | $8.67B | 0.75% | 1.15% | 1.51% | 1.71% |
| The AES Corporation (AES)vs › | $10.60B | 4.38% | 4.35% | 4.71% | 5.33% |
| Pinnacle West Capital Corporation (PNW)vs › | $11.12B | 4.17% | 3.33% | 3.19% | 3.29% |
ROIC
5.1%
ROE
8.1%
ROIC = NOPAT / Invested Capital, where NOPAT = Operating Income × (1 − effective tax rate) and Invested Capital = Total Assets − (Current Liabilities − Short-Term Debt)
Return on invested capital measures the after-tax operating return a company earns on the capital invested in the business. TGMCharts computes it from reported statements: trailing-twelve-month operating income after tax, over invested capital at the latest balance sheet — total assets less the non-interest-bearing current liabilities (payables, accruals, deferred revenue) that fund them; short-term debt stays in the capital base. The tax rate is the period's own effective rate (income tax ÷ pretax income), capped at 45%; when pretax income is zero or negative, or the tax line is a net benefit, no tax is deducted — the operating figure is shown untaxed rather than adjusted by an assumed rate. Not shown for banks, insurers or funds.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
| DATE | RETURN ON INVESTED CAPITAL (ROIC) |
|---|---|
| 2026-06-30 | 5.11% |
| 2026-03-31 | 5.07% |
| 2025-12-31 | 4.32% |
| 2025-09-30 | 3.37% |
| 2025-06-30 | 3.27% |
| 2025-03-31 | 3.17% |
| 2024-12-31 | 2.86% |
| 2024-09-30 | 2.92% |
| 2024-06-30 | 2.99% |
| 2024-03-31 | 2.96% |
| 2023-12-31 | 3.12% |
| 2023-09-30 | 3.27% |
| 2023-06-30 | 3.38% |
| 2023-03-31 | 3.37% |
| 2022-12-31 | 2.98% |
| 2022-09-30 | 2.93% |
| 2022-06-30 | 3.09% |
| 2022-03-31 | 3.12% |
| 2021-12-31 | 3.24% |
| 2021-09-30 | 3.52% |
| 2021-06-30 | 3.63% |
| 2021-03-31 | 3.56% |
| 2020-12-31 | 3.23% |
| 2020-09-30 | 3.22% |
| 2020-06-30 | 3.19% |
| 2020-03-31 | 3.05% |
| 2019-12-31 | 3.72% |
| 2019-09-30 | 3.70% |
| 2019-06-30 | 3.87% |
| 2019-03-31 | 3.81% |
| 2018-12-31 | 3.25% |
| 2018-09-30 | -2.30% |
| 2018-06-30 | -2.38% |
| 2018-03-31 | -2.19% |
| 2017-12-31 | -1.90% |
| 2017-09-30 | 2.87% |
| 2017-06-30 | 2.94% |
| 2017-03-31 | 2.91% |
| 2016-12-31 | 2.84% |
| 2016-09-30 | 3.01% |
| 2016-06-30 | 3.07% |
| 2016-03-31 | 3.06% |
| 2015-12-31 | 2.58% |
| 2015-09-30 | 2.59% |
| 2015-06-30 | 2.57% |
| 2015-03-31 | 2.56% |
| 2014-12-31 | 2.91% |
| 2014-09-30 | 3.14% |
| 2014-06-30 | 3.20% |
| 2014-03-31 | 3.22% |
| 2013-12-31 | 3.03% |
| 2013-09-30 | 3.15% |
| 2013-06-30 | 3.03% |
| 2013-03-31 | 3.00% |
| 2012-12-31 | 3.10% |
| 2012-09-30 | 3.30% |
| 2012-06-30 | 3.47% |
| 2012-03-31 | 3.47% |
| 2011-12-31 | 3.43% |
| 2011-09-30 | 3.60% |
| 2011-06-30 | 3.69% |
| 2011-03-31 | 3.86% |
| 2010-12-31 | 3.88% |
| 2010-09-30 | 4.24% |
| 2010-06-30 | 4.16% |
| 2010-03-31 | 4.02% |
| 2009-12-31 | 4.32% |
| 2009-09-30 | 4.53% |
| 2009-06-30 | 4.77% |
| 2009-03-31 | 4.63% |
| 2008-12-31 | 4.38% |
| 2008-09-30 | 4.77% |
| 2008-06-30 | 5.25% |
| 2008-03-31 | 5.33% |
| 2007-12-31 | 5.49% |
| 2007-09-30 | 5.58% |
| 2007-06-30 | 5.58% |
| 2007-03-31 | 5.65% |
| 2006-12-31 | 4.98% |
| 2006-09-30 | 4.86% |
| 2006-06-30 | 5.05% |
| 2006-03-31 | 4.94% |
| 2005-12-31 | 4.39% |
| 2005-09-30 | 4.23% |
| 2005-06-30 | 5.05% |
| 2005-03-31 | 4.98% |
| 2004-12-31 | 4.56% |
| 2004-09-30 | 4.30% |
| 2004-06-30 | 4.70% |
| 2004-03-31 | 5.04% |
| 2003-12-31 | 4.64% |
| 2003-09-30 | 5.30% |
| 2003-06-30 | 5.38% |
